Investment: Investment means an addition to the nation’s physical stock of capital link the building of new factories, new machines...

Perfect competitive market Monopoly market (i) A fair, direct competition between buyers and buyers: se...

Consumer surplus: Consumer surplus is a measure of the welfare that people gain from consuming goods and services. Concept of con...

The problem of selection: A society cannot produce enough goods and services to satisfy all the wants of its people, it has to make...

The problem of scarcity: We live in a word of scarcity people want and need variety of goods and services. This applies equally to ...

Utility: In economics, utility is a measure of relative satisfaction. Utility is a scientific construct that economics use to under...

Technological change: Technological change refers to improvement in the process for producing goods and services, changes in old produ...